Cott Corporation has acquired US water brand The Mountain Valley Spring Company through its DS Services subsidiary for $75.8 million. The firm was bought from Great Range Capital.
Mountain Valley focuses on spring water bottled in a variety of glass bottles ranging from five-gallon, which are delivered to homes and offices throughout the US, to single-serve sizes.
The brand has also added sparkling and flavoured sparkling water in glass bottles as well as lightweight plastic offerings for its sparkling and spring water lines.
Cott Corporation said that Mountain Valley is “uniquely positioned as the premium American water brand and is a leader in the high-growth premium bottled water branded category”. The brand grew annual revenue from $39 million in 2015 to over $50 million in estimated sales for 2018.
It has one production facility in Hot Springs, Arkansas, and four owned springs in the Ouachita Mountains.
DS Services president Dave Muscato said: “We are very excited about strengthening our business and adding a fast-growing premium spring, sparkling and flavoured water American brand to our portfolio.
“We have added not only a high-growth premium water product but also an American brand that we can offer to consumers in iconic glass bottled packages.”
Cott Corporation incoming CEO Tom Harrington said: “The Mountain Valley acquisition is another positive step in building out our water solutions portfolio and meeting our stated desire to continue to pursue acquisitions in the growing water and coffee segments, where we believe our platform, operating strength and synergies can be leveraged.”
The deal follows on from Cott’s acquisition in recent years of water delivery companies Eden Springs, Aquaterra and Crystal Rock, as well as US coffee roaster S&D Coffee.
Last year, the Canada-based firm recorded a 40% revenue rise to $2.27 billion.
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